Petrotahlil - Despite stronger upstream crude and naphtha values, propylene prices inched lower in Asia on Monday. The price fall was supported by weaker buying sentiments in key markets like China,coupled with improved product availability.
CFR China propylene prices were assessed down at the USD 830/mt levels, a drop of USD 5/mt from last Friday's assessed levels.
FOB Korea propylene prices were lower at the USD 785/mt levels, a fall of USD 5/mt from last Friday.
In plant news, Maruzen Petrochemical, has restarted its naphtha cracker,on July 12, 2020. The cracker was shut for maintenance on May 11, 2020. Located at Chiba in Japan, the cracker has an ethylene production capacity of 525,000 mt/year and propylene capacity of 280,000 mt/year.
In other plant news, Sinopec SABIC Tianjin Petrochemical, has brought on-stream its naphtha cracker on July 12, 2020. The cracker was shut for maintenance on May 9, 2020. Located at Tianjin, China, the cracker has an ethylene production capacity of 1 million mt/year and propylene capacity of 540,000 mt/year.
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Source : PU